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Last $4.27 USD
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As of 8:10 PM 08/14/15 All times are local (Market data is delayed by at least 15 minutes).

insurance australia group (IAUGF) Key Developments

Nsurance Australia Group Limited Reports Unaudited Consolidated Earnings Results for the Second Half and Year Ended June 30, 2015

Insurance Australia Group Limited reported unaudited consolidated earnings results for the second half and year ended June 30, 2015. For the year, the company’s gross written premium was AUD 11,440 million against AUD 9,779 million a year ago. Net earned premium was AUD 10,329 million against AUD 8,644 million a year ago. Profit before income tax and amortization was AUD 1,099 million against AUD 1,823 million a year ago. Profit attributable to shareholders of the company was AUD 728 million or 30.45 cents per diluted share against AUD 1,233 million or 53.62 cents per diluted share a year ago. Reported ROE was 11.3% against 21.7% a year ago. Profit after income tax and non-controlling interests (before amortization) was AUD 878 million against AUD 1,254 million a year ago. Cash EPS was AUD 42.33 cents against AUD 59.41 cents a year ago. Underwriting profit was AUD 541 million against AUD 1,140 million a year ago. Cash ROE was 15.3% against 23.0% a year ago. For the second half, the company’s gross written premium was AUD 5,837 million against AUD 4,993 million a year ago. Net earned premium was AUD 5,154 million against AUD 4,324 million a year ago. Profit before income tax and amortization was AUD 346 million against AUD 871 million a year ago. Profit attributable to shareholders of the company was AUD 149 million or 6.51 cents per diluted share against AUD 591 million or 24.32 cents per diluted share a year ago. Reported ROE was 4.6% against 18.5% a year ago. Cash EPS was AUD 14.30 cents against AUD 28.16 cents a year ago. Underwriting profit was AUD 275 million against AUD 469 million a year ago. Profit after income tax and non-controlling interests (before amortization) was AUD 256 million against AUD 602 million a year ago. Cash ROE was 10.3% against 20.4% a year ago.

IAG To Sell Bohai Leasing Stake

Insurance Australia Group Limited (ASX:IAG) intends to sell its stake in Bohai Leasing Co., Ltd. (SZSE:000415). IAG Chief Executive Officer, Mike Wilkins, said the company was seeking a national presence in China and that could involve shedding its stake in regional insurer Bohai. "That [selling out of Bohai] is likely given that in any market we like to have one position rather than competing positions. Until we understand what the opportunities available to us [are], it's hard to be totally definitive but in all likelihood, yes," he said.

Insurance Australia Group Limited Declares Final Dividend Payable on October 7, 2015; Announces Audited Consolidated Final Earnings Results for the Year Ended June 30, 2015

Insurance Australia Group Limited declared final dividend of 16.0 cents per security payable on 7 October 2015 with record date of 9 September 2015. The company announced audited consolidated final earnings results for the year ended June 30, 2015. For the year, the company's premium revenue was AUD 11.5 million compared with AUD 9.7 million a year ago. Net premium revenue was AUD 10.3 million compared with AUD 8.6 million a year ago. Profit before income tax was AUD 0.95 million compared with AUD 1.8 million a year ago. Profit for the year was AUD 0.83 million compared with AUD 1.33 million a year ago. Profit attributable to shareholders of the parent was AUD 0.73 million or 30.45 cents per diluted share compared with AUD 1.2 million or 53.62 cents per diluted share a year ago. Net cash flows from operating activities were AUD 0.7 million compared with AUD 1.1 million a year ago. Outlays for investments and property and equipment were AUD 12.8 million compared with AUD 14.5 million a year ago.

Insurance Australia Group Appoints Claire Rawlins as Group Chief Information Officer

Insurance Australia Group appointed international digital and technology leader Claire Rawlins to the role of Group Chief Information Officer (GCIO). Claire joined IAG in June 2015 as Chief Technology Officer and has over 20 years' experience working with large organizations in Australia and the UK, including three years as Chief Information Officer, NBN Co and five years as Managing Director Group Technology, British Telecom. Her most recent roles were leading transformation projects at Woolworths and Air New Zealand.

Insurance Australia Group Limited, 2015 Earnings Call, Aug 21, 2015

Insurance Australia Group Limited, 2015 Earnings Call, Aug 21, 2015

 

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IAUGF Competitors

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Commerzbank AG €10.22 EUR +0.08
Lend Lease Group A$14.40 AUD -0.05
Macquarie Group Ltd A$77.56 AUD +1.32
QBE Insurance Group Ltd A$13.57 AUD -0.01
Suncorp Group Ltd A$13.06 AUD +0.02
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IAUGF

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Valuation IAUGF Industry Range
Price/Earnings 16.3x
Price/Sales 1.0x
Price/Book 1.7x
Price/Cash Flow 16.0x
TEV/Sales 0.7x
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